Software and consulting firm First Derivatives says it has bought Toronto-based LakeFront Data Ventures.
LakeFront Data Ventures is a boutique financial markets advisory firm which specialises in enterprise and reference data. Its clients include Wall Street investment banks, pension funds, rating agencies, hedge funds and data vendors.
First Derivative says the deal will extend its data management capabilities in the enterprise and reference areas.
It says deal is being satisfied with an undisclosed cash payment and the issue of 82,602 new ordinary shares.
'Our clients' strategic plans with respect to data management are expanding dramatically and adding LDV will augment First Derivatives' ability to address these growing requirements,' commented the company's CEO Brian Conlon.
